Draft Banking Supervision (Bailiwick of Guernsey) Law, 2018

Overview

On 30 October 2015, the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws.  Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a public consultation process. The Law Officers of the Crown together with the Commission and with the assistance of members of industry, have produced the draft Banking Supervision (Bailiwick of Guernsey) Law, 2018 (the “Banking Supervision Law”). 

The Commission is now seeking feedback and assistance from the financial services industry specifically on whether the provisions of the Banking Supervision Law may have any unintended consequences or fatal flaws. 

Feedback is sought no later than 5pm on Monday, 27 August 2018.